Marketing Intelligance System
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Transcript of Marketing Intelligance System
MARKETING
INTELLIGENCE
SYSTEM
Marketing Information System. (MIS)
Consists of people, equipment, and
procedures to gather, sort, analyze, evaluate and distribute timely and
accurate information to decision makers.
Marketing Intelligence System
A Marketing Intelligence System is a
set of procedures and sources used by
managers to obtain everyday information
about developments in marketing environment.
Components of Intelligence System
• Customer Intelligence: This provides useful information on a customer’s business, preferences or loyalties, personal demographic details.
• Competition Intelligence: This gives information on strengths and weaknesses of each competitor in the territory, the strategy and the tactics being used by them.
Purposes of Marketing Intelligence
• Customer satisfaction• Creative and effective marketing strat
egy• Realities of the company and its comp
etitors– Strengths and weaknesses
• Realities of the marketplace– Opportunities and threats
• Competitive advantage• Anticipate the competitive move and
develop competitive strategies
Scope of Marketing Intelligence
• External environment
• BPEST Analysis
– Business (industry)
– Political and legal environment
– Economic and demographic environment
– Social and cultural environment
– Technology and natural environment
Sources of Marketing Intelligence
• Company’s own personnel– Executives– Consultants and specialists– Purchasing agents– Salespersons– Other employees
Issue: Always busy people Fail to pass on important information
Sources of Marketing Intelligence
• Company’s supply chain– Suppliers– Resellers– Business partners– Business allies– Other marketing intermediaries
Sources of Marketing Intelligence
• Competitors– Annual reports– Speeches and press releases– Products and labels– Advertisements and other marketing com
munications– Web sites
Sources of Marketing Intelligence
• Government sources– Census of population– Census of industries– Other government agencies and publicatio
ns
• Academic sources– Theses and research reports– Academic journals– Academic forum
Sources of Marketing Intelligence
• Publications and mass media– Television/radio news– Newspapers– Magazines and trade journals
• Syndicated services– Panel data– Retail audit– Customized reports (on demand)
Analyzing Marketing Intelligen ce Data
• -- Competitor analysis knowing aboutcompetitors
1. Who are ourcompetitors?
2. What aretheir strategies?
3. What aretheir objectives?
4. What are theirstrengths and weaknesses?
5. What are theirreaction patterns?
Analyzing Marketing Intelligen ce Data
• -- Competitor analysis levels of competition
Brand Competition
Industry Competition
Other companies offering a similar
product and services to the s ame
customer at similar prices All companies making thesame
product or class of products
Form Competition
Generic Competition
All companies manufacturing products that supply the same
service
All companies competing for t he same consumer dollars
Need For Business Reporting.
A marketing intelligence system relies on internal
company records, marketing intelligence
activities and marketing research.
Contents of a Marketing Plan.
1) Executive Summary:
• This presents an overview of the
proposed plan for quick management
skimming.
• It helps higher management to
quickly grasp the major thrust of the
plan.
Contents of a Marketing Plan.
2) Current Marketing Situation:
• This presents relevant data related to industry, market, product, competition, distribution and environment.
• Many issues can surface up during the discussions of market situation.
Contents of a Marketing Plan.
3) Opportunity and Issue analysis:• This summarizes the main
opportunities/threats, strengths/weaknesses and issues facing the product that the plan must deal with. (SWOT Analysis)
Contents of a Marketing Plan.
4) Objectives: This defines the goals, the plan wants to reach in the areas of sales volumes, market share, profits and customer satisfaction.
5) Marketing Strategy: This presents the broad marketing approach that will be used to meet the plan’s objectives.
Contents of a Marketing Plan.
6) Action Programs/Plans: This answers what will be done?, who will do it?, when will it be done? And how much will it cost?
7) Projected Profit & loss statement: This summarizes the expected financial payoff from the plan.
8) Controls: This tells how will the plan be monitored?
Data Mining and Warehousing
• Data Mining: Database marketing, customization and CRM require effective information management.
• The first organization to use data warehousing and mining is Wal-Mart.
• Eg. Small retail shop
Data Mining and Warehousing
• Data Warehousing: Data Warehousing is an IT architecture, aimed at storing and organizing information in a meaningful manner.
• Eg. To the Salesman, a data warehousing should be able to provide information on the customer’s background, the last sales call, the status of any customer complain received.
Research Process
• Problem Definition• Defining research objectives• Working out a research design• Deciding on the sources of data• Planning and deciding on data
collection techniques and tools• Analyzing data• Making a report and presenting it to
the decision makers
Research Design
Exploratory Research-:•It is conducted when the researcher does not know how and why a certain phenomenon occurs.•In doing so, they used focus groups. Since the prime goal is to know the unknown, this research is unstructured.
Research Design
Descriptive Research-:•Descriptive research is carried out to describe a phenomenon or market characteristics.
•For Eg. A study to understand buyer behavior to describe the characteristics of the target market.
Research Design
Causative Research-:•It is done to establish a cause and effect relationship.
•For Eg. The influence of income and lifestyle on purchase decisions.
Open Ended Questions
Close Ended Questions
Ordinal Scales
Interval Scales
Semantic Differential Scale
Multi-Point Rating
1 – 5 Rating and Comment
Questionnaire
Short Answer Questionnaire
Types of Questionnaires
Examples of Different Types of Questionnaires
Open Ended Questions•Where the person who is filling the questionnaire is been given a choice.
Close Ended Questions•Where the person who is filling the questionnaire is not been given a choice.
Nominal Scales
• The Open Ended and the Close Ended Questions are also known as Nominal Scale Questions
Ordinal Scales
• Ordinal Scales are those where you need to rank according to your choice with the options available.
Interval Scales
• Interval Scales are those scales where in you need to rank according to your choice.
• The difference here is it would be measured in Strongly agree, agree, neither agree nor disagree, disagree, strongly disagree
Semantic Differential Scale
• Another type of scaling questionnaire.
• Positive and negative adjective can be used.
• Each serves as positive and negative end of a continuum that characterizes the stimulus.
Multi-Point Rating Questionnaire
1-5 Rating + Comment Questionnaires
References
• Marketing Management by Philip
Kotler, Kelvin Lane Keller, Abraham
Koshy.
• Marketing Management- Thakur
Publication
THANK YOU